ADMD...upcoming FDA Approval. News for today:
Capital Restructuring Drives Shares Skywards BrokerBank Securities, Inc. [Market News Publishing (US)]
ADVANCED MEDICAL ISOTOPE CORP
ADVANCED MEDICAL ISOTOPE INC ("ADMD-L") - Capital Restructuring Drives Shares Skywards - BrokerBank Securities, Inc.
Advanced Medical Isotope Corp., a late stage development company engaged in the development of brachytherapy devices for therapeutic applications, recently announced the initiation of a capital restructuring plan in which $5 million of long term debt was converted into a newly designated series of equity based convertible preferred stock. ADMD believes that these actions will have a positive impact on the Company's balance sheet, potentially eliminating up to $800,000 of convertible debt, potentially eliminating a substantial portion of the warrants outstanding and potentially eliminating a substantial amount of the nearly $11 million of derivative liabilities currently reflected on AMIC's balance sheet.
Strengthening the balance sheet is of top importance for this microcap biotech as the company prepares for commercialization of its lead device for brachytherapy therapeutic applications. ADMD's focus is on transitioning to full operations upon receipt of FDA clearance for its patented brachytherapy cancer products.
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Scared money makes no money
